Laurel Grove Capital LLC Sells 3,750 Shares of PNC Financial Services Group Inc (PNC)

Laurel Grove Capital LLC lowered its stake in PNC Financial Services Group Inc (NYSE:PNC) by 28.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,500 shares of the financial services provider’s stock after selling 3,750 shares during the period. Laurel Grove Capital LLC’s holdings in PNC Financial Services Group were worth $1,294,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in PNC Financial Services Group by 18.2% during the second quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock worth $41,984,000 after acquiring an additional 47,843 shares during the period. California Public Employees Retirement System grew its holdings in PNC Financial Services Group by 0.4% during the second quarter. California Public Employees Retirement System now owns 1,311,395 shares of the financial services provider’s stock worth $177,169,000 after acquiring an additional 5,470 shares during the period. Cypress Capital Group grew its holdings in PNC Financial Services Group by 32.4% during the second quarter. Cypress Capital Group now owns 5,768 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 1,410 shares during the period. People s United Financial Inc. grew its holdings in PNC Financial Services Group by 22.4% during the second quarter. People s United Financial Inc. now owns 24,663 shares of the financial services provider’s stock worth $3,331,000 after acquiring an additional 4,507 shares during the period. Finally, Banque Pictet & Cie SA grew its holdings in PNC Financial Services Group by 10.1% during the second quarter. Banque Pictet & Cie SA now owns 12,868 shares of the financial services provider’s stock worth $1,738,000 after acquiring an additional 1,183 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

PNC traded down $7.40 during trading on Friday, reaching $124.21. 418,393 shares of the stock were exchanged, compared to its average volume of 2,198,144. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. The company has a market cap of $63.23 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.24 and a beta of 0.92. PNC Financial Services Group Inc has a 1 year low of $130.46 and a 1 year high of $163.59.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, July 13th. The financial services provider reported $2.72 EPS for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.14. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.23 billion. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. On average, analysts predict that PNC Financial Services Group Inc will post 10.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be given a dividend of $0.95 per share. The ex-dividend date is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a yield of 3.06%. PNC Financial Services Group’s payout ratio is 44.71%.

Separately, Vining Sparks reaffirmed a “buy” rating and set a $160.00 price objective on shares of PNC Financial Services Group in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $156.37.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the sale, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff bought 700 shares of the firm’s stock in a transaction on Wednesday, July 18th. The shares were purchased at an average price of $142.15 per share, for a total transaction of $99,505.00. Following the completion of the transaction, the director now owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 58,957 shares of company stock worth $8,301,859. 0.38% of the stock is owned by company insiders.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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